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Sol-Gel Technologies Ltd. (SLGL) Financials

SLGL
FY2025 annual
Revenue $19.4M +68.0% YoY
Net Income -$6.1M +42.1% YoY
EPS (Diluted) -$2.19 YoY not available
Free Cash Flow $275K +102.0% YoY
Market Cap $224.9M as of Oct 16, 2026
Price / Sales 11.6x on $19.4M revenue, FY2025
Price / Earnings n/m net loss, so no earnings multiple, FY2025
Price / Book 9.9x on $22.8M equity, Q4 FY2025

A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 16, 2026; every other figure is from the SEC filings on this page. Not financial advice.

Source SEC Filings (10-K/10-Q) Latest period FY2025, ended Dec 31, 2025 Reported Currency USD FYE December

Newest figures come from the 20-F for FY2025, filed Mar 19, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the SLGL SEC filings page.

Sol-Gel Technologies Ltd. (SLGL) reported $19.4M in revenue for fiscal year 2025, up 68.0% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 11 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Rhea AI SLGL FY2025

Development spending still dominates, but 2025 revenue recovery brought the business close to cash-flow break-even.

From FY2024 to FY2025, operating cash flow moved from a $13.9M outflow to $322K positive while revenue recovered; cash improvement preceded profitability. Because R&D reached $22.8M against $19.4M revenue in FY2025, the better cash profile reflects tighter operating absorption alongside continued development investment, not a self-funding model.

The operating loss narrowed to $7.5M in FY2025 even as R&D increased to $22.8M, indicating that revenue recovery and lower overhead absorbed more of the development burden. SG&A fell to $4.2M from $5.7M, making cost structure—not just sales growth—part of the improvement.

The balance sheet remains relatively lightly leveraged, with reported debt-to-equity at 0.3x and a current ratio of 4.4x. However, total assets declined from $35.8M to $29.9M as liabilities edged higher, so improved cash generation has not yet reversed the longer contraction in the asset base.

[ NOT FINANCIAL ADVICE ]

Financial Health Signals

Cash Runway Dilution R&DIntensity Revenue Progress BurnTrend BalanceSheet 91 / 100
Financial Health Score 91/100
Scored as: Emerging companies peer group

Scored against emerging companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →

Health score ≠ stock price. This rates the quality of Sol-Gel Technologies Ltd.'s business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.

Cash Runway
86

Sol-Gel Technologies Ltd. held $24.0M in cash, cash equivalents and investments at the end of fiscal year 2025, and its operations generated $322K of cash that year. Cash Runway ranks emerging companies on the size of that balance against the outflow behind it, and Sol-Gel Technologies Ltd. scores 86/100 among other emerging companies.

Dilution
95

Sol-Gel Technologies Ltd. had 3M shares outstanding at the end of fiscal year 2025. Dilution ranks emerging companies on how fast that count has grown over three years, where a slower rise is the better one, and Sol-Gel Technologies Ltd. scores 95/100 among other emerging companies.

R&D Intensity
99

Sol-Gel Technologies Ltd. spent $22.8M on research and development in fiscal year 2025, which was 84.7% of its operating costs that year. R&D Intensity ranks emerging companies on the share of operating costs that goes into research, and Sol-Gel Technologies Ltd. scores 99/100 among other emerging companies.

Revenue Progress
94

Sol-Gel Technologies Ltd. reported revenue of $19.4M in fiscal year 2025, against $11.5M in fiscal year 2024. Revenue Progress ranks emerging companies on the three-year path of that line, and Sol-Gel Technologies Ltd. scores 94/100 among other emerging companies.

Burn Trend
87

Sol-Gel Technologies Ltd.'s operations generated $322K of cash in fiscal year 2025, against $13.9M used in fiscal year 2024. Burn Trend ranks emerging companies on which way that figure has moved over three years, and Sol-Gel Technologies Ltd. scores 87/100 among other emerging companies.

Balance Sheet
84

Sol-Gel Technologies Ltd.'s cash, cash equivalents and investments came to $24.0M at the end of fiscal year 2025, against $7.1M of total liabilities. Balance Sheet ranks emerging companies on that comparison, and Sol-Gel Technologies Ltd. scores 84/100 among other emerging companies.

Altman Z-Score Safe
8.55

Sol-Gel Technologies Ltd. scores 8.55, well above the 2.99 safe threshold. The score is driven primarily by a large market capitalization ($224.9M) relative to total liabilities ($7.1M). This indicates low bankruptcy risk based on profitability, leverage, and asset efficiency.

Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.

Piotroski F-Score Partial
5/7

Sol-Gel Technologies Ltd. passes 5 of 7 computable financial strength tests (2 of the nine could not be computed from available data). 3 of 4 profitability signals pass, 1 of 2 leverage/liquidity signals pass, both operating efficiency signals pass.

Earnings Quality Mixed
N/A

Sol-Gel Technologies Ltd. reported a net loss of $6.1M while generating $322K in operating cash flow. Operations generated cash despite the loss, but with no positive earnings behind it, the ratio between the two carries no quality signal.

Key Financial Metrics

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Earnings & Revenue

None of these metrics is reported for Q4 2025.

Cash & Balance Sheet

Cash & Debt
$11.0M
YoY-43.4%
QoQ+7.9%

Sol-Gel Technologies Ltd. held $11.0M in cash as of Q4 2025; long-term debt is not reported for that period.

Shares Outstanding
3M
QoQ0.0%

Sol-Gel Technologies Ltd. had 3M shares outstanding in Q4 2025. It is unchanged from the prior quarter.

Free Cash Flow

Not reported for Q4 2025.

Dividends Per Share

Not reported for Q4 2025.

Margins & Returns

None of these metrics is reported for Q4 2025.

Capital Allocation

None of these metrics is reported for Q4 2025.

SLGL Income Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

SLGL quarterly income statement
MetricQ4'2520-FQ2'256-KQ4'2420-FQ2'246-KQ4'2310-KQ2'2310-QQ4'2210-KQ2'2210-Q
RevenueN/A$17.3M+217.7%N/A$5.4M+814.6%N/A$594K-83.1%N/A$3.5M+279.1%
R&D ExpensesN/A$4.6M+90.6%N/A$2.4M-54.1%N/A$5.3M+123.2%N/A$2.4M-65.7%
SG&A ExpensesN/A$1.4M+1.0%N/A$1.4M-24.2%N/A$1.8M+13.0%N/A$1.6M-21.4%
Operating IncomeN/A$11.2M+591.5%N/A$1.6M+124.9%N/A-$6.5M-1309.7%N/A-$463K+94.2%
Net IncomeN/A$11.6M+487.6%N/A$2.0M+133.1%N/A-$6.0M-4355.2%N/A-$134K+98.3%
EPS (Basic)N/A$4.17+487.3%N/A$0.71+422.7%N/A-$0.22-2300.0%N/A$0.01-97.1%
EPS (Diluted)N/A$4.17+487.3%N/A$0.71N/A-$0.22-2300.0%N/A$0.01-97.1%
Diluted Shares (Avg)N/A3M0.0%N/A3MN/A28M+19.6%N/A23M+0.4%

Not reported in any period shown, so not listed: Cost of Revenue, Gross Profit, EBITDA, Interest Expense, Income Tax.

SLGL Balance Sheet

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

SLGL quarterly balance sheet
MetricQ4'2520-FQ2'256-KQ4'2420-FQ2'246-KQ4'2310-KQ2'2310-QQ4'2210-KQ2'2210-Q
Total Assets$29.9M-16.5%$39.3M-6.4%$35.8M-20.8%$42.0M-23.8%$45.3M-2.9%$55.1M+0.2%$46.6M-32.6%$55.0M+18.5%
Current Assets$27.0M-13.8%$36.3M-5.3%$31.3M-24.0%$38.3M-25.8%$41.2M-4.4%$51.6M+6.4%$43.1M-24.6%$48.5M+17.1%
Cash & Equivalents$11.0M-43.4%$10.2M-11.5%$19.5M+159.4%$11.5M-26.1%$7.5M-39.6%$15.6M+170.9%$12.4M-38.0%$5.8M-48.3%
Short-Term Investments$13.0M+193.0%$14.1M-5.8%$4.4M-78.4%$14.9M-16.5%$20.5M+135.9%$17.9M+81.4%$8.7M+407.8%$9.8M+44.2%
Accounts Receivable$2.0M-45.3%$10.0M+65.7%$3.6M+853.6%$6.1M$377K+508.1%N/A$62KN/A
Long-Term Investments$0$0$0$0$0$0$0$0
Total Liabilities$7.1M+1.6%$7.4M+4.5%$7.0M+5.3%$7.1M+4.3%$6.6M+50.5%$6.8M+47.0%$4.4M-67.5%$4.6M-35.3%
Current Liabilities$6.2M+16.8%$5.0M-4.7%$5.3M+16.9%$5.2M-8.2%$4.5M+35.8%$5.7M+75.7%$3.3M-71.5%$3.2M-37.5%
Non-Current Liabilities$935K-45.4%$2.5M+29.9%$1.7M-19.3%$1.9M+66.8%$2.1M+95.3%$1.1M-19.0%$1.1M-42.9%$1.4M-29.6%
Total Equity$22.8M-20.9%$31.9M-8.7%$28.9M-25.3%$34.9M-27.7%$38.6M-8.5%$48.3M-4.1%$42.2M-24.1%$50.4M+28.3%
Retained Earnings-$237.0M-2.7%-$228.1M-1.5%-$230.9M-4.8%-$224.7M-7.1%-$220.3M-14.1%-$209.8M0.0%-$193.1M-8.4%-$209.8M-8.4%

Not reported in any period shown, so not listed: Inventory, Goodwill, Long-Term Debt.

SLGL Cash Flow Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

SLGL quarterly cash flow statement
MetricQ4'2520-FQ2'256-KQ4'2420-FQ2'246-KQ4'2310-KQ2'2310-QQ4'2210-KQ2'2210-Q
Stock-Based CompensationN/A$100K-63.6%N/A$275K-44.8%N/A$498K+41.5%N/A$352K+65.3%

Not reported in any period shown, so not listed: Operating Cash Flow, Depreciation & Amortization, Capital Expenditures, Free Cash Flow, Investing Cash Flow, Financing Cash Flow, Dividends Paid, Share Buybacks.

SLGL Financial Ratios

Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

SLGL quarterly financial ratios
MetricQ4'2520-FQ2'256-KQ4'2420-FQ2'246-KQ4'2310-KQ2'2310-QQ4'2210-KQ2'2210-Q
Operating MarginN/A65.1%+35.2ppN/A29.9%N/A-1098.8%N/A-13.2%
Net MarginN/A67.3%+30.9ppN/A36.4%N/A-1005.0%N/A-3.8%
Return on EquityN/A36.4%+30.8ppN/A5.7%+18.0ppN/A-12.4%-12.1ppN/A-0.3%+20.2pp
Return on AssetsN/A29.5%+24.8ppN/A4.7%+15.5ppN/A-10.8%-10.6ppN/A-0.2%+17.1pp
Current Ratio4.37-1.6x7.320.0x5.92-3.2x7.36-1.7x9.10-3.8x9.10-5.9x12.93+8.0x15.03+7.0x
Debt-to-Equity0.31+0.1x0.230.0x0.24+0.1x0.20+0.1x0.17+0.1x0.140.0x0.10-0.1x0.09-0.1x
Asset TurnoverN/A0.44+0.3xN/A0.13+0.1xN/A0.01-0.1xN/A0.060.0x

Not reported in any period shown, so not listed: Gross Margin, FCF Margin.

Reported as filed but not readable as a share of revenue in the periods where the ratio runs further from zero than a revenue base allows; no change figure is given where either compared period is one of those: Operating Margin, Net Margin.

Similar Companies

Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.

Company Fiscal year Revenue Net income Net margin Market cap Health score
Sol-Gel Technologies Ltd. SLGL FY2025 $19.4M -$6.1M -31.6% $224.9M 91/100
NRX Pharmaceuticals, Inc. NRXP FY2025 $1.2M -$28.6M N/A $112.1M 42/100
ABVC BioPharma, Inc. ABVC FY2025 $296K -$7.9M N/A $27.2M —
MiNK Therapeutics, Inc. INKT FY2025 N/A -$12.5M N/A $52.8M —
Adverum Biotechnologies, Inc. ADVM FY2024 $1.0M -$130.9M N/A $96.3M 54/100
X4 Pharmaceuticals, Inc. XFOR FY2025 $35.1M -$79.2M N/A $242.9M 74/100

Frequently Asked Questions

What is Sol-Gel Technologies Ltd.'s annual revenue?

Sol-Gel Technologies Ltd. (SLGL) reported $19.4M in total revenue for fiscal year 2025. This represents a 68.0% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Sol-Gel Technologies Ltd.'s revenue growing?

Sol-Gel Technologies Ltd. (SLGL) revenue grew by 68.0% year-over-year, from $11.5M to $19.4M in fiscal year 2025.

Is Sol-Gel Technologies Ltd. profitable?

No, Sol-Gel Technologies Ltd. (SLGL) reported a net income of -$6.1M in fiscal year 2025, with a net profit margin of -31.6%.

Sol-Gel Technologies Ltd. (SLGL) reported diluted earnings per share of -$2.19 for fiscal year 2025. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

Sol-Gel Technologies Ltd. (SLGL) had EBITDA of -$7.4M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

Sol-Gel Technologies Ltd. (SLGL) had an operating margin of -38.9% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

Sol-Gel Technologies Ltd. (SLGL) had a net profit margin of -31.6% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

Sol-Gel Technologies Ltd. (SLGL) has a return on equity of -26.9% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

Sol-Gel Technologies Ltd. (SLGL) generated $275K in free cash flow during fiscal year 2025. This represents a 102.0% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

Sol-Gel Technologies Ltd. (SLGL) generated $322K in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

Sol-Gel Technologies Ltd. (SLGL) had $29.9M in total assets as of fiscal year 2025, including both current and long-term assets.

Sol-Gel Technologies Ltd. (SLGL) invested $47K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

Sol-Gel Technologies Ltd. (SLGL) invested $22.8M in research and development during fiscal year 2025.

Sol-Gel Technologies Ltd. (SLGL) had 3M shares outstanding as of fiscal year 2025.

Sol-Gel Technologies Ltd. (SLGL) had a current ratio of 4.37 as of fiscal year 2025, which is generally considered healthy.

Sol-Gel Technologies Ltd. (SLGL) had a debt-to-equity ratio of 0.31 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

Sol-Gel Technologies Ltd. (SLGL) had a return on assets of -20.5% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

Sol-Gel Technologies Ltd. (SLGL) has no price-to-earnings ratio at the moment: net loss, so no earnings multiple (FY2025). The market capitalization is $224.9M as of Oct 16, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

Sol-Gel Technologies Ltd. (SLGL) trades at 11.6x sales, its market capitalization divided by revenue of $19.4M revenue, FY2025. The market capitalization is $224.9M as of Oct 16, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

Sol-Gel Technologies Ltd. (SLGL) has an Altman Z-Score of 8.55, placing it in the Safe Zone (low bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.

Sol-Gel Technologies Ltd. (SLGL) has a Piotroski F-Score of 5 out of 7 computable signals; 2 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Sol-Gel Technologies Ltd. (SLGL) reported a net loss of $6.1M while generating $322K in operating cash flow. Operations generated cash despite the loss, but with no positive earnings behind it, the ratio between the two carries no quality signal. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

Sol-Gel Technologies Ltd. (SLGL) scores 91 out of 100 on our Financial Health Score, indicating strong standing within its emerging companies peer group. The score is a 0-100 composite of six dimensions (Cash Runway, Dilution, R&D Intensity, Revenue Progress, Burn Trend, Balance Sheet), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.

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